[Form 4] Globe Life Inc. Insider Trading Activity

Rhea-AI Filing Summary

Globe Life Inc. (GL) Form 4 – insider activity dated 30-31 Jul 2025: Co-Chairman & CEO Frank M. Svoboda exercised two tranches of employee stock options, purchasing 25,000 common shares at an $82.56 strike (total cost ≈ $2.06 m). He immediately sold the same 25,000 shares on the open market in four blocks at blended prices of $141.15-$142.58, generating ≈ $3.54 m gross proceeds.

Net effect: direct ownership ended unchanged at 32,747 shares; indirect holdings remain 134,898 shares (family trust) and 1,939.6 units (401-k). Option inventory declined from 50,000 to 25,000 unexercised options with the 2/28/2026 expiry.

Take-aways for investors: the transactions appear cash-neutral on share count but realise a ~$1.5 m spread for the executive. Although the sales represent a modest fraction of his total economic exposure, they may be interpreted as short-term profit-taking rather than a change in long-term commitment.

Positive

• None.

Negative

• 25,000 shares sold by CEO (~$3.5 m) could be read as insider selling pressure, though offset by equal option exercise.

Insights

Equity Analyst

TL;DR: CEO exercised options, sold equal shares, ownership flat; signals liquidity move, not strategy shift.

The matched exercise-and-sell pattern suggests routine monetisation of previously granted options. The $82.56 strike versus $141+ market price crystallises a ~72% gain, consistent with typical executive diversification. Net holdings unchanged at 32.7k direct shares plus sizable indirect stakes indicates continued alignment with shareholders. Transaction size (~$3.5 m) is immaterial relative to GL’s ~$10 bn market cap, so price impact should be negligible. Sentiment lean: mildly negative simply because sales outnumber buys on tape.

Corporate Governance Specialist

TL;DR: Routine Rule 10b5-1-style trades; no governance red flags.

The filing shows no 10b-5-1 checkbox marked, yet timing near option expiry is typical. Svoboda retains >170k aggregate shares (direct+indirect), preserving meaningful skin in the game. No patterns of accelerating disposals are evident. From a governance lens, the activity is neutral; investors should monitor subsequent filings for trend confirmation.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

SVOBODA FRANK M

(Last) (First) (Middle)

GLOBE LIFE INC.

3700 SOUTH STONEBRIDGE DRIVE

(Street)

MCKINNEY TX 75070

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
GLOBE LIFE INC. [ GL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Co-Chairman & CEO

3. Date of Earliest Transaction (Month/Day/Year)
07/30/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/30/2025		M		12,500	A	$82.56	45,247	D
Common Stock	07/30/2025		S		6,553	D	$141.5886(1)(2)	38,694	D
Common Stock	07/30/2025		S		5,947	D	$141.9961(2)(3)	32,747	D
Common Stock	07/31/2025		M		12,500	A	$82.56	45,247	D
Common Stock	07/31/2025		S		11,000	D	$141.2976(2)(4)	34,247	D
Common Stock	07/31/2025		S		1,500	D	$142.0188(2)(5)	32,747	D
Common Stock								134,898	I	Family Trust
Common Stock								1,939.627	I	401(k) Plan

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option (Right to Buy)	$82.56	07/30/2025		M			12,500	02/28/2022	02/28/2026	Common Stock	12,500	$0	37,500	D
Employee Stock Option (Right to Buy)	$82.56	07/31/2025		M			12,500	02/28/2022	02/28/2026	Common Stock	12,500	$0	25,000	D

Explanation of Responses:

1. Sales at prices ranging from $141.15 per share to $141.76 per share.

2. Reporting person will provide full information regarding the number of shares sold at each separate price upon request by the SEC staff, the issuer or any security holder of the issuer.

3. Sales at prices ranging from $141.77 per share to $142.28 per share.

4. Sales at prices ranging from $141.02 per share to $141.57 per share.

5. Sales at prices ranging from $141.60 per share to $142.58 per share.

	Frank M. Svoboda, By: /s/ Chris T. Moore, Attorney-in-fact	07/31/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many Globe Life (GL) shares did CEO Frank Svoboda sell?

He sold a total of 25,000 common shares on 30-31 Jul 2025.

What price did the insider receive for the Globe Life shares?

Weighted average sale prices ranged from $141.02 to $142.58 per share.

Did the CEO's overall share ownership in GL decrease?

No. After exercising and selling equal amounts, his direct stake remained 32,747 shares, plus indirect holdings.

How many unexercised options remain after the transactions?

Svoboda still holds 25,000 employee stock options expiring 28 Feb 2026.

Is this Form 4 activity considered material to Globe Life's valuation?

Given the small size versus GL’s market cap, analysts generally view the activity as not materially impactful.